Getting an SBA Loan for Sports and Recreation Instruction

With these business loans for sports and recreation instruction, the SBA guarantees the lender that the loan will be repaid. This sports and recreation instruction loan for $150,000 was given to a Texas entrepreneur in 2001.

This business knew how to go about getting a business bank loan. Based in Abilene, Texas, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was First Finan Bank, based in Abilene, Texas.

SBA Loan Borrower

COMPANY TYPE: SPORTS AND RECREATION INSTRUCTION
ABILENE, TX 79605

SBA Loan Lender

FIRST FINAN BANK
400 PINE ST
ABILENE, TX 79601

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

611620 - Sports and Recreation Instruction

Loan Approval Date

8/3/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 12 employees. The loan application did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $150,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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